DeHeng Assisted Sinomine Resource Group Co., Ltd. in Completing the Acquisition of the Tsumeb Smelter in Namibia

2024-09-01

On August 30, 2024, Sinomine (Hong Kong) Rare Metals Resources Co., Ltd., a subsidiary of Sinomine Resource Group Co., Ltd. (“Sinomine,” stock code: 002738), officially completed the acquisition of a 98% equity stake in the Tsumeb smelter located in Namibia from Dundee Precious Metals Inc. (“DPM”), a Canadian listed company. The Tsumeb smelter is one of the few specialized smelters globally capable of processing complex concentrates, including high-arsenic copper concentrates. With mature processing technology and complete and sound infrastructure, the smelter is conveniently connected by rail to the Atlantic port of Walvis Bay. Currently, the smelter has an annual concentrate processing capacity of 260,000 tons, with its primary products being blister copper and sulfuric acid. This strategic acquisition has further enhanced Sinomine’s influence in the global strategic metals sector and is expected to create new profit growth opportunities for the company.  

As the legal counsel to Sinomine in this transaction, the DeHeng team was led by partner Chen Wei, with primary support from partners She Wei and Qiao Fei, and lawyers Feng Yiwen, Liu Xiaotong, Huang Tianhuan, and Kong Dayang. Serving as the lead legal team, they collaborated with legal teams in Canada and Namibia to provide comprehensive, professional, and efficient legal services for the transaction. DeHeng’s professionalism and dedication were highly commended by the client.